Give Me The Names For Top 10 Online Stocks Trading Accounts With Their Ratings?
I think Sherin has given a comprehensive answer below for your to follow. I have personal experience with ICICIDirect, HDFC Securities and Motilal Oswal. I don’t trade on a daily basis and am a long term investor. So for me brokerage rates don’t matter much.
For me what matters are the following:
1. Reliability of the platform -I can transact when I want
2. Correctness in transaction records, account debits, demat credits, shortfall management
3. User-friendliness of interface – you can find what you want quickly
4. Promptness of customer helpdesk in replying to emails
5. Ability to do everything from one single place – like demat account, trading account, and bank account are all managed by the same entity, so there is single place of accountability
Given all these in my experience ICICIDirect still scores the best. It has the highest no of subscribers. It used to have some transaction problems earlier, but over the past year, I cannot recollect instances where I couldn’t execute a buy/sell when I wanted it. (HDFC Securities & Motilal OSwal both have miles to go on this front, systems cant keep up with the load on exceptionally high traffic days -jan 22/23). Their User interface is the best, you can locate what to do and where very fast, almost intuitively. Their transaction records are impeccable, you have peace of mind. Couldn’t say the same for Motilal Oswal (I had to track and remind them to make good the shortfall when I bought and paid for 20 shares of Wyeth Pharma but demat was only for 16 after a week). And single place of accountability makes sure i deal with the same party and can get things resolved faster.
No matter what arguments you hear against, perhaps the biggest argument in favour of ICICIDirect is that they have been operating these services from 1999. That’s close to a decade of experience in handling extremes of load, variety of software and technical issues, customer complaints , and have matured over the years.
The others may give you cheaper brokerage rates (and that matters if you are a day trader) but have much more to cover before they can reach similar levels of maturity as a service provider.
My 2 cents. Hope they were useful & happy investing!
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Sonia,
The criteria to select an online trading account is basically on some factors:
1. The cost of opening and maintaining the accounts.
2. The brokerage and commission for each buy and sell
3. Customer service facility
4. Special features like off-line order posting, information on funds, access to the buy/sell account etc..
5. Bank account linking facilities… I mean number of approved banks you can link those account with this trading AC
6. Speed of the portal
The above details are vary upon broker to broker.
You can collect above data from the following 10 well known broking services. Then compare them. You can certainly take a well decision.
1. Reliance Money
2. ICICI Direct
3. India Bulls securities
4. UTI Securitis
5. Emkay
6. Motilal Oswal
7. Geojit
8. Anand Rathi Securities
9. IL & LS investsmart
10. Religare
It is better to do a research yourself to find out a best company to start your account with. If you ask to 100 people, certainly you will get 100 different answers and that will confuse you further.
Make the self research as a practice to your life. If you are not able to do something, then only go to the well knowledgeable and experienced advisor’s.
So, That’s all. Best wishes and thanks for the good question…. take care and go ahead.
The most worst service is of ICICIDirect, Never go for that.
Sharekhan and Geojit are pretty good and you may signup.
Never go for ICICIDirect, somebody will tell you it is the best but don’t hear that. Or you will get worried after started using their service. More over an average of 5 days in a month they are out of service. You trades wil be in queue most times and will take some time(even 5 minutes) to execute in peak hours
Thanks,
From a poor unlucky customer of icici bank and icicidirect services.
Let’s keep it short. Try the HDFC Bank/HDFC Sec combine.
Better still, go meet the branch manager of the bank and figure it out.
Akashhttp://www.narachinvestment.com
One is
http://www.anugrahsb.com
icicidirect
reliancemoney
religare
sharekhan
mk securities
Hi, We’re from ICICI and are sorry to hear of your experiences. If you can email your contact details at care@icicibank.com, we’ll contact you and work to address your issues.